Króna

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Icelandic economy

...This boom in foreign investment in the late 1990s and the 2000s, however, left Iceland’s economy especially vulnerable to the vicissitudes of the global credit markets. The country’s currency, the
króna, showed signs of weakness beginning in 2005. Inflation skyrocketed, domestic interest rates more than doubled, and foreign investors flocked to
króna-denominated bonds. The tide...